First Merchants Corporation (NASDAQ: FRME) sets cash dividend on FRMEP preferred
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
First Merchants Corporation reported that its Board of Directors declared a quarterly cash dividend on its 7.50% Non-Cumulative Perpetual Preferred Stock, Series A. The dividend is $46.88 per preferred share, equivalent to $0.4688 per depositary share (each depositary share represents a 1/100th interest in a preferred share).
The dividend is payable on August 14, 2026, to stockholders of record as of July 30, 2026. The preferred stock trades via depositary shares on the Nasdaq Global Select Market under the symbol FRMEP, while the company’s common stock trades under FRME.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Preferred dividend per share: $46.88 per preferred share
Dividend per depositary share: $0.4688 per depositary share
Preferred coupon rate: 7.50%
+4 more
7 metrics
Preferred dividend per share
$46.88 per preferred share
Quarterly cash dividend on 7.50% Non-Cumulative Perpetual Preferred Stock, Series A
Dividend per depositary share
$0.4688 per depositary share
Each depositary share represents a 1/100th interest in a preferred share
Preferred coupon rate
7.50%
Non-Cumulative Perpetual Preferred Stock, Series A dividend rate
Record date
July 30, 2026
Stockholders of record on this date receive the quarterly preferred dividend
Payment date
August 14, 2026
Scheduled payment date for the Series A preferred dividend
Common stock symbol
FRME
Common stock listed on the Nasdaq Global Select Market
Depositary share symbol
FRMEP
Depositary shares for Series A preferred listed on Nasdaq Global Select Market
Key Terms
Non-Cumulative Perpetual Preferred Stock, depositary shares, financial holding company, Nasdaq Global Select Market
4 terms
Non-Cumulative Perpetual Preferred Stock financial
"7.50% Non-Cumulative Perpetual Preferred Stock Series A, of $46.88 per share"
Non-cumulative perpetual preferred stock is a type of investment that pays a fixed dividend forever, without a set end date. If the company skips some dividends in a year, you don’t get that money later, and it’s gone forever. It matters because investors get regular income but may miss out if the company faces financial trouble.
financial holding company financial
"First Merchants Corporation is a financial holding company headquartered"
A financial holding company is a parent firm that owns and oversees banks and other financial businesses, such as lending, insurance, or investment services. It matters to investors because it bundles several money-making activities under one roof—like a parent managing several children—so returns, risks, and regulatory rules for banking apply to the whole group; trouble in one unit can affect the company’s profits, capital needs, and dividends.
Nasdaq Global Select Market financial
"traded on the NASDAQ Global Select Market System under the symbol FRME"
A Nasdaq Global Select Market listing is the highest tier of stocks on the Nasdaq exchange, reserved for companies that meet the strictest financial, reporting and governance standards. For investors, it acts like a premium quality label—signaling larger, more transparent and better-governed companies that tend to offer greater liquidity and lower perceived risk compared with lower-tier listings, making it easier to buy, sell and evaluate shares.
FAQ
What dividend did First Merchants Corporation (FRME) declare on its preferred stock?
First Merchants Corporation declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock, Series A, which equals $0.4688 per depositary share (FRMEP).
When is the record date for First Merchants Corporation’s FRMEP preferred dividend?
The record date for the FRMEP preferred dividend is July 30, 2026. Stockholders of record on that date will be entitled to receive the $0.4688 per depositary share quarterly dividend.
When will First Merchants Corporation (FRME) pay the FRMEP preferred dividend?
The dividend on First Merchants Corporation’s 7.50% Series A preferred stock will be payable on August 14, 2026 to holders of depositary shares (FRMEP) who are on the books as of July 30, 2026.
What securities of First Merchants Corporation (FRME) trade on Nasdaq?
First Merchants Corporation’s common stock trades on Nasdaq under the symbol FRME, and depositary shares representing a 1/100th interest in its 7.50% Series A preferred stock trade under the symbol FRMEP.
What type of preferred stock is FRME’s Series A issue associated with FRMEP?
The Series A preferred associated with FRMEP is 7.50% Non-Cumulative Perpetual Preferred Stock, Series A. It pays a stated dividend, but dividends are non-cumulative if not declared.